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Q3:adjusting journal entries for end of year adjusting transactions Note: do it on Excel please Transactions 1. Dec. 1*- a new company is formed called
Q3:adjusting journal entries for end of year adjusting transactions
Transactions 1. Dec. 1*- a new company is formed called "Lawn Darter, Inc." $10,000 cash is contributed to the start-up in exchange for common stock. 2. Dec. 1 - $1,500 was paid for 3 months' rent in advance. 3. Dec. 14-a $2,400 riding lawn mower was purchased in cash. This plece of equipment was determined to have a 2 year (24 month) usable lifespan. 4. Dec. 8th - $400 of supplies were purchased on account and pald in cash 30 days later. 5. Dec. 10th - Iawn service job was performed and payment was $1,250 in cash 6. Dec. 12th a customer pald $1,400 In cash for lawn service to be performed Jan. 10th 7. Dec. 15th - Iawn service job was performed and payment was $1,100 in cash 8. Dec. 17th - lawn service Job was performed and payment was $750 on account, paid in cash 30 days later. 9. Dec. 20th -- Iawn service job was performed and payment was $1,800 in cash 10. Jan. 1* - an Inventory was done and it was determined $150 of supplies were used in Dec. 11. Jan. 5th a $200 dividend for the prior year was paid in cash 12. Jan. 5th - $1,700 in employee wages for Dec. were paid in cash 13. Jan. 10th - lawn service Job was performed per previous agreement 14. Mar. 18 - $450 of income taxes were due for the prior year Note: do it on Excel please
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